MODERN ART
ActiveMODERN ART has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €57k and a net result of €2k. Equity is shrinking by ~17.2% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 72% of 9582 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
76
/ 100
Excellent▲ +16 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability21▲+21
Solvency98▼-1
Growth58▲+26
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity ample (current ratio 2.81 against 2.64 in 2023), and 40.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
59.6%
Return on assets
2.5%
Age of the figures
20 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-08-2025, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
30 d late
2023
61 d late
2022
31 d late
2021
31 d late
2020
26 d late
2019
88 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€57k▲ 4.4%
2023 · €55k
2018: €126k
2019: €109k
2020: €96k
2021: €80k
2022: €67k
2023: €55k
2018 → 2024
Total assets
€96k▲ 8.9%
2023 · €88k
2018: €202k
2019: €178k
2020: €160k
2021: €89k
2022: €87k
2023: €88k
2018 → 2024
Net result
€2k
2023 · €-12k
2018: €-7k
2019: €-17k
2020: €-13k
2021: €-17k
2022: €-13k
2023: €-12k
2018 → 2024
Working capital
€62k▲ 12.7%
2023 · €55k
2018: €125k
2019: €109k
2020: €96k
2021: €80k
2022: €67k
2023: €55k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€96k-€80k▼ 17.3%€67k▼ 15.8%€55k▼ 18.6%€57k▲ 4.4%
Operating result€-10k-€-14k▼ 39.6%€-11k▲ 23.4%€-9k▲ 15.8%€3k
Net result€-13k-€-17k▼ 27.0%€-13k▲ 24.3%€-12k▲ 1.4%€2k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €3k after a loss of €9k in 2023, the highest year so far.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €96k
Equity
€57k▲ 4.4%
Debt
€39k▲ 16.3%
The debt ratio rises from 37.8% to 40.4%: debt grows faster than equity.
Key figures and ratios
Solvency
59.6%▼
2023 · 62.2%
Current ratio
2.81▲
2023 · 2.64
Quick ratio
0.29▲
2023 · 0.07
Debt / equity
0.68▲
2023 · 0.61
ROE
4.2%▲
2023 · -22.8%
ROA
2.5%▲
2023 · -14.2%
Debt
€39k▲
2023 · €33k
Debt ≤ 1 year
€34k▲
2023 · €33k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€88k€96k▲
Current assets29/58€88k€96k▲
Stocks and contracts in progress3€86k€86k=
Stocks30/36€86k€86k=
Amounts receivable within one year40/41€2k€2k▼
Other amounts receivable41€2k€2k▼
Cash at bank and in hand54/58€534€8k▲
Equity and liabilities
Total equity and liabilities10/49€88k€96k▲
Equity10/15€55k€57k▲
Contributions10/11€62k€62k=
Capital10-€62k
Issued capital100-€62k
Reserves13€18k€18k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130-€6k
Reserves not available under the articles1311€6k-
Distributable reserves133€12k€12k=
Profit (loss) carried forward14€-25k€-23k▲
Amounts payable17/49€33k€39k▲
Amounts payable within one year42/48€33k€34k▲
Financial debts43€25k-
Credit institutions430/8€25k-
Trade debts44€2k€1k▼
Suppliers440/4€2k€1k▼
Other amounts payable47/48€6k€33k▲
Accrued charges and deferred income492/3-€5k
Income statement
Code20232024
Other operating charges640/8€939€410▼
Gross operating margin9900€-8k€3k▲
Operating profit (loss)9901€-9k€3k▲
Financial charges65/66B€3k€546▼
Recurring financial charges65€3k€546▼
Profit (loss) for the period before taxes9903€-12k€2k▲
Income taxes67/77€97-
Profit (loss) for the period9904€-12k€2k▲
Profit (loss) for the period to be appropriated9905€-12k€2k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-25k€-23k▲
Profit (loss) brought forward from the previous period14P€-13k€-25k▼
The notes to these accounts (2 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 30 days late
2024
31-12
Financial
Back to profitnet €2k
Net result €2k after 6 loss-making years.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 61 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Liquidity quadruplescurrent ratio 9.51
Current ratio from 2.62 to 9.51; short-term debt falls from €59k to €9k.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 26 days late
2020
27-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 88 days late
2019
31-12
Financial
Weakest financial yearnet €-17k
Net result drops to €-17k, the lowest in the series; recovery starts the following year.
01-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 1 day late
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
29-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 1988
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Van Putlei 532018 AntwerpenGround area
1,074 m²
Building footprint
405 m²
Volume, LiDAR
6,954 m³
Parcel 11810K2171/00X004, Flanders · tallest building 20.2 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
MODERN ART
since 19882.034.958.644
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11810K2171/00X004 | Flanders | 1,073 m² | 1 · 405 m² | 20.2 m · 6 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
KNK.be
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Grafmonumenten Hubert Vlaminck
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Lokeren · Eq €57k
BHQ
BE 0656.989.611
Schelle · Eq €57k
DELHEN
BE 0798.309.703
Andenne · Eq €57k
ALIA VITA
BE 0553.464.875
Lier · Eq €57k
Of 4,235 companies in sector 47789 we hold annual accounts for 1,016. 775 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded17-02-1988
Fiscal year end31-12
Activities, NACEBEL
47789Other retail sale of new goods
52498
47791Retail sale of antiques
74872
82300Organisation of conventions and trade shows
Sources
Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.